AlTi Global Inc. Invests $527,000 in Western Midstream Partners, LP $WES

AlTi Global Inc. acquired a new stake in shares of Western Midstream Partners, LP (NYSE:WES) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,804 shares of the pipeline company’s stock, valued at approximately $527,000.

Several other large investors have also recently added to or reduced their stakes in WES. Alps Advisors Inc. increased its position in Western Midstream Partners by 0.9% in the 4th quarter. Alps Advisors Inc. now owns 35,074,357 shares of the pipeline company’s stock worth $1,385,437,000 after purchasing an additional 299,631 shares during the last quarter. Invesco Ltd. increased its holdings in Western Midstream Partners by 0.3% in the third quarter. Invesco Ltd. now owns 24,292,437 shares of the pipeline company’s stock worth $954,450,000 after buying an additional 81,183 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Western Midstream Partners by 10.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 9,562,213 shares of the pipeline company’s stock worth $377,707,000 after buying an additional 936,376 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in Western Midstream Partners by 15.8% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,539,175 shares of the pipeline company’s stock valued at $337,297,000 after acquiring an additional 1,163,991 shares in the last quarter. Finally, Morgan Stanley raised its position in Western Midstream Partners by 98.1% during the fourth quarter. Morgan Stanley now owns 5,446,475 shares of the pipeline company’s stock valued at $215,136,000 after acquiring an additional 2,696,439 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Western Midstream Partners Trading Up 1.5%

NYSE:WES opened at $46.66 on Tuesday. The company’s 50 day moving average is $44.53 and its 200-day moving average is $42.48. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.34. Western Midstream Partners, LP has a 12 month low of $36.90 and a 12 month high of $48.01. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.93 and a beta of 0.68.

Western Midstream Partners (NYSE:WES) last posted its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Western Midstream Partners had a net margin of 29.98% and a return on equity of 33.89%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $0.79 EPS. Western Midstream Partners’s quarterly revenue was up 22.5% compared to the same quarter last year. Equities analysts anticipate that Western Midstream Partners, LP will post 3.45 EPS for the current year.

Western Midstream Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.93 per share. The ex-dividend date is Friday, July 31st. This represents a $3.72 annualized dividend and a yield of 8.0%. Western Midstream Partners’s dividend payout ratio is presently 121.57%.

Wall Street Analysts Forecast Growth

WES has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Western Midstream Partners from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of Western Midstream Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Morgan Stanley raised shares of Western Midstream Partners from an “underweight” rating to an “equal weight” rating and set a $51.00 price objective for the company in a research note on Wednesday, June 10th. UBS Group upped their price objective on shares of Western Midstream Partners from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Finally, US Capital Advisors raised shares of Western Midstream Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.25.

About Western Midstream Partners

Western Midstream Partners, LP (NYSE: WES) is a midstream energy infrastructure company that owns, operates and develops an integrated network of crude oil, natural gas and produced water gathering, processing, transportation and storage assets in the United States. The partnership’s primary offerings include pipeline transportation, fractionation services, natural gas liquids (NGL) logistics and produced water handling. Through its fee-based and commodity-based contracts, Western Midstream provides its customers with essential services that support efficient energy production and distribution.

The company’s asset portfolio spans key onshore basins, including the Delaware Basin in West Texas and southeastern New Mexico, the San Juan Basin in New Mexico and Colorado, and the Denver-Julesburg Basin in Colorado.